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Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
 The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the mining management which in essence nationalize it and renegotiate the right with the company or with other companies.
“If a company contract period is expired, it will not be extended. (The area) must be returned to the state first. If the foreign investors still want to continue, they will have to negotiate again. For example, say a contract with Inalum expired in 2013, yes, it run out right away, “said Coordinating Minister Hatta Rajasa in Jakarta, Tuesday (07/06/2011).
According to Hatta, the renegotiation of mining contracts of work needs to be done because there is potential lost from non-tax revenue to the state from the energy and mineral resources sector. The Government believes the royalties from the sale of Indonesia’s mining goods is too small compare to the sale value.
“There is potential lost of non-tax revenues, so renegotiation must be done. We all know that nickel mine is large, but the royalties is only 0.28 percent, while Freeport Indonesia only pays 1 percent (royalty), and Antam (Aneka Tambang), only 3.5 percent. This is not fair “said Hatta.
At the moment there are 42 mining companies operate under Contract of Work and 76 operate under the old coal mining works agreement. Amongst those are big companies such as PT Freeport Indonesia and PT Newmont Nusa Tenggara.
Strategic mineral resources exploitation as a commodity has become increasingly out of control with the implementation of regional autonomy as a result of reformation movement. The government reported that there are approximately 8,000 mining permit issued by local governments. The regional autonomy has allowed regency to grant mining permit while before reformation movement, a mining permit must be approved by the President as well as the People Representative.
The condition is increasingly opened up opportunities for foreign direct control of coal and mineral resources. Foreign mining companies, particularly from China and India, control small to medium mining operation in Indonesia by funding local companies.
“Without realizing it, we’ve become the upstream resources to China and India. The two countries are very aggressively when looking for coal resources as a substitute for foreign oil, mean while their oil and gas reserves are deliberately kept intact ” said Singgih Widagdo, Indonesian Coal Society Executive Director.
It is not clear on how the Government of Indonesia is going to fund the mining operation if big company such as PT Freeport Indonesia or PT Newmont Nusa Tenggara packs up their bags and leave as they will obviously be taking all of their equipment with them. This strategy could back fire and devoid the state from these companies income tax which undoubtedly a lot bigger than the royalty.
One would think that by simply issuing regulation to increase the royalty will be a lot easier for everyone to deal with.
Source: Jakarta Updates
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Wednesday, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
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- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
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